Since third-party insurance cover is compulsory, all non-life insurance companies have the obligation to provide this cover.
Fire insurance is a contract under which the insured agrees to indemnify the insured for financial loss, which may be due to the loss or damage to property or goods due to fire during a specified period. . The contract specifies the maximum amount agreed by the parties at the time of the contract, which the insured can claim in case of loss. This amount, however, is not a measure of loss. The damage can be detected only after the fire. The insurer is liable to ensure the actual amount of loss not exceeding the maximum amount prescribed under the policy.
Without the permission of the insurer, the fire insurance policy cannot be given because the insured should have an insurable interest at the time of contract as well as the property at the time of loss. Unqualified interest in the goods may arise due to ownership, possession or contract. A person with a limited interest in an asset or goods can not only cover his interest but also the interests of others. Under fire insurance, subject matter of the following persons has an insurable interest:
Motor third-party insurance or third-party liability cover, sometimes also known as 'Act Only' cover, is a statutory requirement under the Motor Vehicles Act.
This is known as the cover of 'Third Party' because the beneficiary of the policy is someone other than the two parties involved in the contract. However, it covers the insured's legal liability for the loss of third party loss or disability of third party property.
Since third-party insurance cover is compulsory, all non-life insurance companies have the obligation to provide this cover. In the Dubai context, automobile dealers arrange a comprehensive insurance cover with vehicle registration. This comprehensive cover is an add-on for compulsory third-party cover and protects the car owner from financial loss, which is caused by vehicle damage or theft.
The cost of a comprehensive cover is many times that claims of damage since the stand-alone third party cover are more consistent than third-party claims.
There is no place like home in the entire universe. After all, this is a place where you and your loved ones can rejoice, you can create thousands of memories that live throughout life. When we make our life savings to buy or to build houses, but we rarely discover that our home also needs protection in the form of insurance. By investing in a good home insurance policy, which is also known as homeowner insurance, you can save your home from hazards. Due to the rioting, the situation of theft, fire, earthquake or destruction of the house is quite common in Dubai.
There are various home insurance providers in Dubai offering different plans according to different needs. To make your selection easier, we have listed the important points that should be compared when choosing a home insurer from another:
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